Mid-market private equity firm Equistone Partners Europe has acquired a majority stake in Camusat Group following the exit of MBO Partenaires, a minority shareholder alongside management since 2011.
Richard Thomas, CEO of Camusat, Eric Braghini, partner, and several members of the management team will reinvest in the group as part of this transaction.
Headquartered in Dijon, France, Camusat specialises in the implementation and maintenance of telecom infrastructure networks for fixed and mobile telecommunications operators, equipment manufacturers, integrators, and ‘Towercos’. The group is organised around three main business units: design and installation of telecom towers, monitoring and maintenance services, and energy supply solutions for these sites.
Founded in 1948, Camusat was acquired by the Ginger industrial group in 2002. In 2011, Thomas and Braghini conducted a spin-off from Ginger, backed by MBO Partenaires. In 2013, Camusat sold its French operations and refocused its strategy on international activities, notably in emerging markets.
Today, Camusat employs more than 2,000 people in 35 countries (mainly in Africa, South Asia, the Middle East, and the Caribbean) and generated almost EUR175 million of net sales in 2015. The group has grown its revenues by more than 15 per cent per annum in recent years, driven by strong demand in emerging markets and its expansion into new countries.
The completion of the transaction is subject to competition authority approval.
Thomas says: “With the strong support of Equistone, Camusat will pursue its ambitious development strategy within the telecom infrastructure market. The group plans to increase its geographical reach, to strengthen its technological leadership and its innovation capability – particularly in the field of energy – and to enlarge its product offering.”
Guillaume Jacqueau, managing partner of Equistone Partners Europe, commented: “We are delighted to support Richard Thomas and the management team of Camusat in a new phase of development. The group will benefit from key advantages when implementing its growth strategy: the strong demand for telecoms infrastructure in emerging markets in particular, its recognised technical expertise, and its unique ability to work in complex and challenging environments.”
Richard Broche, member of the executive board of MBO Partenaires, adds: “We are very proud to have contributed with Richard Thomas and the management team to Camusat’s successful phase of international development, notably with its expansion into new territories in Asia and the launch of new business lines in a rapidly-evolving market. Passing on the baton to an experienced middle-market investor like Equistone seems to be the perfect choice to enable the group to continue growing in the coming years.”
